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Briefings were Held for the Newly Appointed Outside Director of China Baowu Board of Directors, with Luo Jianchuan as the New Outside Director [ 2019-07-30 ]

On the morning of July 26th, the State Council State-owned Assets Supervision and Administration Commission held in the headquarter of China Baowu briefings for the newly appointed outside director of China Baowu Board of Directors. Deputy director Gao Yan of the First Bureau for the Administration of Corporate Executives of the State Council SASAC announced the appointment documents of SASAC and made a speech. Party Secretary of CPC China Baowu Committee, and Chairman of China Baowu Chen Derong hosted the conference, and in representation of the group company signed with the newly appointed outside director Luo Jianchuan Service Contract of Outside Director. Members of Board of Directors of group company, members of the executive team, and leaders above levels of executive assistants (included), and major responsibility persons of relative functional departments of the headquarter attended the meeting.


Entrusted by leaders of SASAC, Gao Yan announced decisions of SASAC on the adjustment and supplementation of outside directors of China Baowu. He also conveyed requirements of SASAC for the building of the board of directors. Firstly, it should substantially enhance political stance; secondly, it should further explore and improve modern SOE system with Chinese characteristics; thirdly, it should further push ahead the building of fine culture of the board of directors; fourthly, it should input adequate time and energy into executing duties. He hoped China Baowu Board of Directors would comply with strategic deployment of the central government for deepening SOE reform, actively conform to trends of industrial evolution and transformation, further strengthen strategic research and market analysis, devise in advance, make active endeavors and strive for the objectives of building itself into a pacesetter of steel industry high-quality development and the world’s first-class enterprise with global competitiveness.


Chen Derong stated, China Baowu would firmly hold up to appointment decisions of SASAC and implement requirements of SASAC for works of boards of directors, expressed sincere thanks for sustained great importance and care from SASAC on normalization of the building of the board of directors in China Baowu, and warmly welcomed joining of director Luo Jianchuan. Director Luo Jianchuan had rich experiences in enterprise operation and management. His joining would help optimize specialty structure of the members of the board of directors of the group company, and further enhance scientific decision-making levels of the board of directors. Level of managers of the group company, and every departments and units should as always create fine conditions and actively support director Luo Jianchuan in exercising powers and performing duties.  


Chen Derong pointed out with emphasis, in the three years since establishment, the first session of the board of directors of China Baowu had under leadership of SASAC, conformed to the reform direction of modern enterprise system, and carried out exploration and practices in improving corporate governance structure, strengthening scientific decision-making mechanism, and pushing ahead corporate development and reform tasks, etc. with active achievements made. The 19th CPC National Congress clearly proposed the grand objective of fostering world’s first-class enterprises with global competitiveness, and this was the key mission conferred to central SOEs by CPC in the New Era. In meetings of central SOE responsibility persons concluded not long ago, SASAC raised further requirements for central SOEs to make steady headway for development with high quality. For people of China Baowu, to strengthen the country with steel was our initial aspiration and mission always held firmly, and to become the global leader in steel industry was unswerving vision and goals of us in the New Era. We believed, joining of director Luo Jianchuan would help push China Baowu in stepping into new phases in implementing requirements for high-quality development, speeding up realization of strategic objectives of “hundreds of millions of tons of productivity in steel segment in 2025, thousands of trillions of revenues of the group company in 2035, to form several pillar industries with hundreds of trillions of revenues and tens of trillions of profits, and a batch of excellent enterprises with tens of trillions of revenues and trillions of profits”, and opening up new prospects of state-owned capital investment companies, etc..  

Source:Baosteel News Centre
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